O-2005-2858 - Laserfiche WebLink

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Obligation or portion thereof called for redemption shall terminate on the date fixed for redemption. Section 3.5: Manner of Payment. Characteristics. Execution and Authentication. The Paying Agent/Registrar is hereby appointed the paying agent for the Obligations. The Obligations shall be payable, shall have the characteristics and shall be executed, sealed, registered and authenticated, all as provided and in the manner indicated in the FORM OF OBLIGATIONS set forth in Article IV of this Ordinance. If any officer of the City whose manual or facsimile signature shall appear on the Obligations shall cease to be such officer before the authentication of the Obligations or before the delivery of the Obligations, such manual or facsimile signature shall nevertheless be valid and sufficient for all purposes as if such officer had remained in such office. The approving legal opinion of Andrews Kurth LLP, Houston, Texas, Bond Counsel, may be printed on the back of the Obligations over the certification of the City Secretary, which may be executed in facsimile. CUSIP numbers also may be printed on the Obligations, but errors or omissions in the printing of either the opinion or the numbers shall have no effect on the validity of the Obligations. Section 3.6: Authentication. Except for the Obligations to be initially issued, which need not be authenticated by the Paying Agent/Registrar, only such Obligations as shall bear thereon a certificate of authentication, substantially in the form provided in Article IV of this Ordinance, manually executed by an authorized representative of the Paying Agent/Registrar, shall be entitled to the benefits of this Ordinance or shall be valid or obligatory for any purpose. Such duly executed certificate of authentication shall be conclusive evidence that the Obligation so authenticated was delivered by the Paying Agent/Registrar hereunder. Section 3.7: Ownership. The City, the Paying Agent/Registrar and any other person may treat the person in whose name any Obligation is registered as the absolute owner of such Obligation for the purpose of making and receiving payment of the principal thereof and interest thereon and for all other purposes, whether or not such Obligation is overdue, and neither the City nor the Paying Agent/Registrar shall be bound by any notice or knowledge to the contrary. All payments made to the person deemed to be the Registered Owner of any Obligation in accordance with this Section shall be valid and effective and shall discharge the liability of the City and the Paying Agent/Registrar upon such Obligation to the extent of the sums paid. Section 3.8: Registration. Transfer and Exchange. The Paying Agent/Registrar is hereby appointed the registrar for the Obligations. So long as any Obligation remains Outstanding, the Paying Agent/Registrar shall keep the Register at its office in Austin, Texas in which, subject to such reasonable regulations as it may prescribe, the Paying Agent/Registrar shall provide for the registration and transfer of the Obligations in accordance with the terms of this Ordinance. Each Obligation shall be transferable only upon the presentation and surrender thereof at the principal corporate trust office of the Paying Agent/Registrar, accompanied by an assignment duly executed by the Registered Owner or his authorized representative in form satisfactory to the Paying Agent/Registrar. Upon due presentation of any Obligation for transfer, the Paying 7 HOU:2516661.4